World’s Apart: Alan Krueger & Modeled Behavior

In a call with reporters, Alan Krueger, the chairman of the council, said the recovery had been strengthening even faster than he and other economists expected recently and the report notes that the “sharp drop” in unemployment this winter took them “by surprise.”

Obviously the economy is tracking exactly as I expected and indeed I think has not yet hit its stride which I still expect to come in roughly two to three month’s time. . . .